When selecting an application to capture, if the error message Wave Link Audio Engine Not Properly Installed is shown, follow the steps below to resolve the issue in Wave Link.
Resolving Wave Link Audio Engine Not Properly Installed error message
1) Completely close and quit Wave Link.
2) Download Loopback from Rogue Amoeba - https://rogueamoeba.com/loopback/.
3) Install Loopback.
4) During installation, there will be a prompt to update the ACE component.
4) Once the update is installed, continue the Loopback installation.
5) Open Wave Link. Wave Link will now capture application audio.
6) Loopback can now be uninstalled and Wave Link will continue to function as normal.